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40056 Somerville Lane Temecula, CA 92591

4 Beds 3 Baths 1,921 sqft Built 2005

$485,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $252.94
  • 5 Days on Market
  • MLS # : SW20222767
  • Updated Date : 10/30/2020 at 17:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,921 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Ca Properties

Listing Agent's Description

Lovely corner lot home located in the much sought after Community of Harveston. This Tri-Level home offers a Gourmet Kitchen with Granite Counter tops, white cabinets w/inserts, and large center island with Granite Counter top. Stainless Steel Appliances & the Stainless Steel Refrigerator is included. Spacious eating area. Kitchen is Open to the Family room w/cozy Fireplace. The First Floor has new flooring throughout and offers a separate office area. Ceiling fans & custom blinds through out - 4 bedrooms, Family Room, Kitchen, Office and Half Bath. All bedrooms are located on the Upper Levels. Spacious Master Suite is on the opposite side of house for privacy. Master walk-in closet, Master bathroom features a separate large soaking tub and shower. Master bathroom has Dual Sinks. Laundry room is also located on Second level with nice size storage space. Two additional Bedrooms on the second level w/access to Full Bathroom. Third level loft with closet for use as 4th Bedroom. Low maintenance, beautiful courtyard for relaxing. Easy access Two car garage. This community has an elementary school, pre-school and day care facilities all within the community. Enjoy all the amenities that living in Harveston has to offer including lake, shops, and convenience store, parks, pedal boat rentals, walking trails, picnic areas, clubhouse, pool, spa, gym, playground, sports courts, biking trails, etc.

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MARKET HIGHLIGHTS

  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Harveston

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Harveston

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10822496

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Ysabel Barnett Elementary School Primary Regular 941 35 8
James L. Day Middle School Middle Regular 994 38 8
Chaparral High School High Regular 3,237 120 9

Ysabel Barnett Elementary School

  • Education Level: Primary
  • # of students: 941
  • # of teachers: 35
8
GreatSchools Rating

James L. Day Middle School

  • Education Level: Middle
  • # of students: 994
  • # of teachers: 38
8
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 3,237
  • # of teachers: 120
9
GreatSchools Rating
 

$437,310$534,490$485,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,793
Property Tax -$583
Property Insurance -$74
HOA -$177
Property Management Fees -$132
CASH FLOW
-$519

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$485,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,514

INVESTMENT

$134,514

Down Payment
$121,475
Rehab Estimate
$5,750
Closing Costs
$7,289

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,475
Loan Amount $364,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,437

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,240

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,344

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,240
1$2,2402$2,3003$2,3504$2,4005$2,715
$2,715
RENT COMPS ANALYSIS
  • 40056 Somerville Lane Temecula, CA 1
    • 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.17
    •  
  • 40211 Pasadena Drive Temecula, CA 2
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2005
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.23
    •  
  • 28911 Boothbay Road Temecula, CA 3
    • 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 2003
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.18
    •  
  • 40182 Canton Court Temecula, CA 4
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2007
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.18
    •  
  • 40171 Pasadena Dr. Temecula, CA 5
    • 4 beds 3 baths ∙ 2,101 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,101 Sqft ∙ Built 2004
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,715
    • $1.29
    •  
PROPERTY LISTING DETAILS
Sylvia Easley
Bhhs Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20222767
Last Updated: 10/30/2020
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